The board of Taiwan Semiconductor Manufacturing Company (TSMC) has approved capital appropriations of approximately US$4.101 billion to expand capacity for advanced-node manufacturing, as well as converting certain logic capacity to specialty technologies, and R&D capital investments and sustaining capital expenditure.

TSMC has set aside a capex budget of US$9-10 billion for 2016, up from US$8 billion in 2015. Capex for 2016 will be used for the development of the foundry's 10nm and more advanced process technologies, development of advanced packaging technology such as integrated fan-out (InFO) wafer-level packaging, and construction of a new 12-inch fab in China, the foundry said previously.